Old Mutual Global Investors has appointed Anthony Gillham as the sole portfolio manager for the GBP165m Skandia Strategic Bond Fund.
Gillham (pictured) has over 12 years of industry experience having joined Skandia in 2000.
The Morningstar OBSR rated Skandia Strategic Bond Fund aims to provide long-term total return from capital growth and income through fixed interest investments. The fund invests in both leading collective investments and bespoke segregated mandates spanning a broad spectrum of assets, including government, investment grade and high yield bonds worldwide.
In recent months, the fund has taken advantage of the rally in risk assets, in particular the fund benefited by pre-emptively positioning itself for a positive outcome from the ECB by increasing its weighting in European high yield. The fund also remains bullish on credit, particularly high yield where valuations remain historically attractive. Additionally, the fund continues to remain underweight interest rate duration (approximately two years) on the basis that valuations are unattractive.
John Ventre, head of multi-manager for Old Mutual Global investors, says: "Anthony has made a significant and valuable contribution to the management of both our dedicated fixed income portfolios and fixed income allocations within our multi-asset funds over the last five years. He has helped us forge significant success in the management of our funds, combining world-class manager selection with a flexible approach to asset allocation that can add value within customers risk expectations. I am confident that Anthony will continue his excellent work now that he is sole portfolio manager for the fund, being well supported by the depth of investment talent and experience in our multi-manager team.”
Gillham says: "In the current market environment for fixed interest, having a broad opportunity set and the flexibility to exploit those opportunities has never been more important. With yields at all time lows, a strategic approach to fixed income helps us balance the desire to deliver returns, while recognising that bond funds should behave like bond funds. We’ve done an excellent job for investors so far and I look forward to continuing that success as part of Old Mutual Global Investors.”